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Topic Review (Newest First)

02-17-2011, 04:17 PM

PeterBivo

Update! Buddy of mine has access to a warm (m)

well lighted garage & all the necessary tools. We're going to do it next weekend. Going to go by Dave Z's tutorial for the 540. Still cannot find an online DIY for the 528 but will assume it's very similar.Front wheel bearing DIY for 540

02-15-2011, 05:25 PM

rwthomas1

Re: +1

Here in RI the property taxes on vehicles are high enough I never own anything newer than five years old. That and the sales tax too. Why give the crooks more of my money to spend?

RT

02-15-2011, 04:32 PM

PeterBivo

If it was summer I would attempt it but (m)

it's still mid-winter here in Northern Michigan & I do not have access to a warm bay. My dealer will do the install (2hrs labor) and I'll get a loaner for the day:)

02-15-2011, 03:50 PM

dsalinas

Are you planning on doing the bearing install

yourself? If so, perhaps you could do a write up with pics. I need to do my left front and the only write ups I have seen are for the 540.

The sales tax on a new 5er or similar car is about $6,000. Then you have the pesky depreciation of about $5,000 per year in the first few years.

Getting rid of an E39 for pure economic reason in favor of a new car doesn't add up. I don't think most E39 owners are spending $5,000+ per year fixing their cars.

If a person wants a new car, by all means they should go out and get one. But, using the "reason" that they cannot afford to keep fixing the old E39 falls short. If the car is unreliable or unsafe, that is another story.

02-15-2011, 11:47 AM

Bimmer5Michael

Yeah I always keep a spare car just for that

reason. It lowers my anxiety when doing repairs. Of course most people would not be caught dead in an 88 gmc safari van, or the 06 truck, or for that matter the harley. In reality though transportation is transportation, riding in style is another thing. I just like driving and it almost matters not what it is that I drive, of course some roads do require the correct tools.

That's great about the new member. The club needs new blood and new ideas. Most of the folks I know are crotchety ole Bleep Bleep Bleep like me.

Several of the Porsche people have BMWs and it might be great if they could cross over to the club as well. A few of the BMW folks also own Porsches.

Nevertheless, Spring is around the corner and hopefully the events planned will work out and we can have some fun. I recommended a weekend outing of camping, autocrossing, cooking, and other events.

Michael
00 540 sport 6 spd

02-15-2011, 10:20 AM

Bmw540san

Re: Yep, last year I put 600.00 in parts on my 88 GMC

Nice thing about all that is that you can sit in any of the vehicles and make long relaxing trip without worry of breakdown. On the side note, I have a another friend who's about to join the club.

Your lessons learned are excellent advice. Except when rust or other major problems overwhelm a car, it is usually much cheaper to repair than to replace. But consider, lots of people like to replace their car periodically. Why else would the concept of leasing exist?

02-14-2011, 05:49 PM

Bimmer5Michael

Yep, last year I put 600.00 in parts on my 88 GMC

Van. Some would say why, I sad why not. Replaced the steering gear and PS pump because they were leaking, replace all the shocks, brakes, then bought new tires for it. Sometimes I replace my tires earlier than usual and donate them to some students here running on slick tires. I had planned on that being my tow vehicle but then I bought the 06 GMC Sierra truck which needed emissions work, luckily that was only 86.00.

This summer I plan to replace the PS pump on the 540, the Final stage for the HVAC, new tires, and a new bumper cover for the front.

Then the VAN needs some body work and paint, freshen up the interior and use it for a business delivery until I decide if I want to hot rod it.

bearing. Bearing, hub & bolts about $160.00 plus 2 hrs labor. Our '03 X5 4.4 w/100k has the valley pan leak issue plus seeping oil from the head gaskets, belts etc... About $400.00 in parts from Autohausaz and about 9 hrs labor. Still less expensive then car payments. My dealer up here lets me get the parts from autohausaz and they do the labor. Local indy won't let me supply the parts so he doesn't get our business:)

02-14-2011, 12:35 PM

larrychew

Agreed value is arranged in advance...

and you need to pay an additional premium amount which is not
very much. Probably about $75-125 annually.

02-14-2011, 11:24 AM

plexus

Re: Still less than monthly payments...

However... I had an 84 528e that i bought when it was 15 years sold. it had been meticulously indy serviced up to that point. except the guy didn't do the timing belt and... got'cha! so the indy bought the car from him and did the head. the car was in fantastic shape when i bought it for $4600 CDN.

After 10 years of being a daily driver but with only about 8k km average a year (i don't commute), i had put my share of repairs into her including a clutch, total front end suspension and steering where 2 of the biggest jobs. but the back end rusted out badly and unsafely.

Eventually "he" needed about $3k in repairs (front end again, i think a stuck injector but that would have to be diagnosed and repaired whatever it was, rear wheel bearing and some smaller things). if i spent the $3k i would still have a rusted out unsafe car. so i felt it was prudent to retire him and get a "new" car.

I probably put in that average of $100/mo in the car, give or take. I have detailed records as well and can check but that is about right over-all.

I scraped the E28 (sadly) and bought a 00 540i sport for $8500. so, an extra $5500 over the repair of the E28 for the E39.

I think there does come a time when you have to consider retiring a used car. when you feel like the money going into it could get more value if it were put into another newer car, such as in my example.

But that E28 got 25 years of service in a wintery salt laden part of the world (Toronto) as a daily driver all that time! 295k kms on him and if it were not for the rusted body, he'd still be on the road! Mechanically he was a fine car only needed the usual work.

Lessons learned:

- get rust protection on a regular basis
- do not compromise and use cheap suspension parts, use good parts
- do regular maintenance
- synthetic oil worked well for me in this case
- consider repairing critical bodywork damage sooner than later
- keep buying used cars!

02-14-2011, 09:56 AM

jimlev

Must be differences in insurance companys (m)

My daughters old Jetta was totaled (rear ended) many years ago, I showed our insurance company (Commerce) receipts for recent purchases for new tires, exhaust, etc. They increased the payment by $900.

02-14-2011, 09:41 AM

JKRIT

"Agreed value" insurance?

Is this common across different carriers? We totaled our E46 wagon a year ago and I tried to get value for recent work, including brakes, shocks/struts, a bunch of sensors, and Vanos seals. Got nothing beyond book value. They said it was all normal maintenance. Any hints on how to arrange for "agreed value," and do you get it updated as the year goes by and work gets done on the car?
'03 525i Sapphire Blu/Grey, SP, Nav
'02 325it Orient Blu./Grey, SP, Nav
'98 323is Arctic Sil./Blk, SP
'95 M3 Cosmos Blk./Blk

02-13-2011, 10:57 PM

rwthomas1

Re: It kind a gets expensive when you have 2 aging E39

On several cars I have owned I have kept detailed records. Never, ever has any of them exceeded $100/month to keep running averaged out over the time I own the vehicle. And that is throwing money at them, whatever they need, when they need it. I laugh at the idiots that think a monthly payment is the way to go.

The secret to a good life on modest income is NO DEBT. You'd be amazed at how much extra cash you have without paying interest on everything.

RT

02-13-2011, 09:04 PM

larrychew

Still less than monthly payments...

I mentally put away $350 a month for repairs/refurbishment for my 190K 2000 528i. So if I need a $900 repair/maintenance item I just tell myself that was 3 months of payments.

AAA does a study every few years to determine when a car should be traded in/sold for a new car is the lowest cost of ownership was the main criteria. Answer: Never. Repair it no matter how expensive.

Be sure to arrange an "agreed value" on your can with your insurance carrier if you have a lot of repairs/refurbishment on your car so that you're not upside down if the car is totaled. This very little increase in premium to increase your coverage beyond the Blue Book value.

02-13-2011, 08:26 PM

Ed CT

It's still cheaper than a new car; plus you get to

drive an E39! Almost 150,000 miles on mine, and I still consider it a very reliable car - when it crosses this line, I'll consider another purchase.

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